Is your firm prepared for an economic downturn?
ProfessionalServices have largely flourished since the 2008/2009 recession. But how well Professional Services Firms will be able to continue to “score”, will depend on the degree of resilience within their revenue structures and their ability to grow and occupy new market space amidst an unfolding economic downturn.
The signs for a major economic downturn are clearly starting to show across several industries – and in professional services. Structural short-falls that have so far been covered by a thriving economy are now being revealed. This recession may hence become the catalyst of the long foreseen true “disruption” to lawyers, consultants, accountants and tax advisors.
Some B2B sales questions which your firm should be able to answer right now:
– Clients, who buy “service (or product) A”, also typically buy what?
– What is the next likely “challenge” or “issue” for any given client?
– What is the next likely offer (service / product) for any given client?
– Which patterns across the firm’s service or product portfolio are emerging?
– Which client or service segments show untapped potential?
– …
Unlocking effective B2B sales analytics is still a challenge for many knowledge-based firms, like lawfirms, consulting, marketing or even technology service providers. Find some guidance in this article written together with my colleague, Simone Göltl.